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2013 ctsv
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120 Posts
Discussion Starter #1
For instance I lease a v for 718 a months or finance a 2010 for 44k ......which one is better .....I own my own business and can claim it as a write off
 

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ZIP
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51,864 Posts
Depends how much you use it. My TC(purchase) gets depreciation and when I sell it, it counts as a loss. So a big chunk when you sell deducts from net income...
 

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2010 CTS-V
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442 Posts
I own my own business. It's always less expensive to pay cash. If you must buy now and that means lease or finance, check with your CPA that does your taxes.

Jack
 

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2012 CTS V Wagon-Sold 2013
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52 Posts
I'm a CPA, did my own lease vs purchase last fall for my CTS V, decided to purchase based on my interpretation of all the facts and figures. While there wasn't a huge gap, and I got an excellent leasing price on a loaded '13 wagon, the purchase was cheaper in the long run. I've seen and read many posts where people justify either a purchase or lease because they own a business. Beware that a 100% business deduction of a lease payment or vehicle purchase is generally hard to support, especially for a luxury car. Unless you're parking the V at your office and keeping a strict odometer log supported by names/dates/places traveled, you'd be hard pressed to convince the IRS agent that you have 100% business use. There almost always is a personal use factor, which I recommend that everyone do their homework on. Luxury cars can be subject to much stricter review in my experience. Leasing generally works well for high dollar vehicles that consume a lot of cash to purchase, but factors like residuals, interest rates, etc should be considered. I'd suggest having a conversation with your CPA/tax professional prior to making a final decision.
 

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2009 CTS-V
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539 Posts
Lease with accelerated payments so the car has a residual payoff cost of @10,000.00 after 3 yrs. That way you can right off the car as a lease in 3 years and buy it for the residual cas value at the end.
 
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